There is a need for a conveniently adjustable means for anchoring the free ends of the cables of a compound bow so that symetrical angular positions of the eccentrically mounted wheels at the outer ends of the bow limbs may be easily and precisely attained. Making adjustments of the cable anchors heretofore employed on two-wheel type compound bows was tedious and required relaxing the tension of the cables by flexing the bow limbs. It is also desirable to arrange the lateral spacing of the cable anchors and the eccentric wheels so as to minimize stresses tending to twist the bow limbs when the bow is drawn and to provide an adjustable cable anchoring means in which twisting of the cables is avoided when making adjustments.